---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-018225"
form_type: "8-K"
ticker: "OPBK"
cik: "0001722010"
company_name: "OP Bancorp"
filed_at: "2024-04-25T23:59:59+00:00"
generated_at: "2026-06-03T08:06:59.604400+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# OP Bancorp Q1 net income $5.2M flat QoQ, down 30.6% YoY; NIM falls to 3.06%

## Summary
- Net income $5.23M ($0.34 EPS) vs $5.17M ($0.34) Q4 2023 and $7.5M ($0.48) Q1 2023.
- Net interest margin 3.06%, down 6bp QoQ and 51bp YoY; net interest income $15.98M, -10.7% YoY.
- Gross loans $1.80B (+2.2% QoQ), deposits $1.90B (+4.9% QoQ) with mix shift to higher-cost time deposits.
- Credit quality improved: NPLs ratio 0.24% (from 0.34%), criticized loans 0.64% (from 0.76%).
- Declared $0.12/share dividend payable May 23; repurchased 49,697 shares at avg $10.02.

## SEC filing metadata
- accession: 0001628280-24-018225
- form_type: 8-K
- ticker: OPBK
- cik: 0001722010
- company_name: OP Bancorp
- filed_at: 2024-04-25T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1722010/000162828024018225/0001628280-24-018225-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1722010/000162828024018225/opbk-20240425.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-018225
- JSON: https://secwatch.observer/filing/0001628280-24-018225.json
- Plain text: https://secwatch.observer/filing/0001628280-24-018225.txt

## Key facts
- Earnings Releases
  OP Bancorp reported preliminary financial results for the first quarter ended March 31, 2024.
  - Period: the first quarter ended March 31, 2024
  - Result: preliminary results
  source text: issued a press release announcing preliminary unaudited results for the first quarter ended March 31, 2024
  evidence_url: https://www.sec.gov/Archives/edgar/data/1722010/000162828024018225/0001628280-24-018225-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.